Nisa Investment Advisors LLC boosted its position in SiTime Co. (NASDAQ:SITM – Free Report) by 601.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,318 shares of the company’s stock after purchasing an additional 1,130 shares during the quarter. Nisa Investment Advisors LLC’s holdings in SiTime were worth $283,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC lifted its position in SiTime by 1.1% during the 3rd quarter. FMR LLC now owns 3,469,843 shares of the company’s stock valued at $595,113,000 after acquiring an additional 39,119 shares during the period. State Street Corp lifted its holdings in shares of SiTime by 3.1% during the third quarter. State Street Corp now owns 922,974 shares of the company’s stock valued at $158,299,000 after purchasing an additional 27,692 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of SiTime by 15.4% in the 3rd quarter. Principal Financial Group Inc. now owns 448,930 shares of the company’s stock worth $76,996,000 after purchasing an additional 59,931 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of SiTime by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 440,922 shares of the company’s stock worth $75,637,000 after buying an additional 15,759 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in SiTime by 7.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 165,820 shares of the company’s stock valued at $28,440,000 after buying an additional 11,955 shares in the last quarter. Hedge funds and other institutional investors own 84.31% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on the company. Needham & Company LLC increased their target price on SiTime from $140.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Barclays raised their price objective on shares of SiTime from $130.00 to $160.00 and gave the company an “underweight” rating in a research note on Friday, January 17th. Stifel Nicolaus upped their target price on shares of SiTime from $230.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Roth Mkm raised their price target on shares of SiTime from $205.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.
SiTime Price Performance
SiTime stock opened at $194.43 on Thursday. The business’s fifty day moving average is $228.87 and its 200 day moving average is $184.43. SiTime Co. has a one year low of $72.39 and a one year high of $268.18. The stock has a market capitalization of $4.54 billion, a PE ratio of -46.96 and a beta of 1.82.
SiTime (NASDAQ:SITM – Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.14. The company had revenue of $57.70 million for the quarter, compared to the consensus estimate of $55.10 million. SiTime had a negative return on equity of 9.89% and a negative net margin of 53.55%. SiTime’s revenue was up 62.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.81) earnings per share. As a group, sell-side analysts expect that SiTime Co. will post -2.98 EPS for the current fiscal year.
Insider Transactions at SiTime
In other SiTime news, CEO Rajesh Vashist sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $259.25, for a total transaction of $3,111,000.00. Following the completion of the transaction, the chief executive officer now owns 24,781 shares in the company, valued at $6,424,474.25. This trade represents a 32.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Samsheer Ahamad sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $172.73, for a total value of $690,920.00. Following the sale, the insider now directly owns 78,979 shares in the company, valued at $13,642,042.67. This trade represents a 4.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,931 shares of company stock valued at $7,017,644 over the last 90 days. Company insiders own 2.30% of the company’s stock.
SiTime Profile
SiTime Corporation designs, develops, and sells silicon timing systems solutions in Taiwan, Hong Kong, the United States, Singapore, and internationally. The company provides resonators and clock integrated circuits, and various types of oscillators. It serves various markets, including communications, datacenter, enterprise, automotive, industrial, internet of things, mobile, consumer, and aerospace and defense.
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